MANAGEMENT AND BOARD CHANGES
The Company announces that Mr. George Yordanov, P.Geo., has been appointed President and Chief Executive Officer of the Company effective December 18, 2025, replacing Mr. Mike Taylor, who will continue to serve as a director of the Company.
Mr. Yordanov is a professional geologist and independent Qualified Person (as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) with over 15 years of experience in mineral exploration and project management in Canada and internationally. He holds a Master's degree in Economic Geology, specializing in structural geology, and has contributed to grassroots discoveries and advanced-stage exploration programs for companies including Osisko Mining, Dundee Precious Metals and Sumitomo Metal Mining.
The Company would like to thank Mr. Taylor for his service as President and Chief Executive Officer and looks forward to his continued contributions as a director.
The Company also announces the appointment of Mr. Robert Kitchen as a director and Chairman of the Board. Mr. Kitchen brings extensive experience in capital markets, corporate governance and strategic oversight of public companies. Since 2022, Mr. Kitchen has served as President and CEO of Wasayao Strategic Group, providing strategic advisory services to First Nations in mineral resources and energy, including community engagement, negotiations and equity participation. From 2008 to 2022, he was Economic Development Officer for the Cree Nation of Nemaska and has served as a director for multiple Cree companies and organizations, including the Cree community of Waswanipi.
Following these changes, the Company's board of directors is comprised of: Robert Kitchen (Chairman), Mike Taylor, Maciej Lis and Jason Hawkins.
PRIVATE PLACEMENT
The Company announces that it intends to complete a non-brokered private placement in one or more tranches for aggregate gross proceeds of up to $1,000,000 through the issuance of up to 10,000,000 common shares of the Company at a price of $0.10 per share (the "Private Placement"). The Company expects to close an initial tranche of up to $100,000 in the near term, with the proceeds intended to be used to fund payments in connection with the proposed option agreement with Stelmine, including the initial $100,000 cash payment contemplated thereunder. The Company expects to close a second tranche of up to $900,000 thereafter, with the proceeds intended to be used for working capital and other expenditures related to the proposed option agreement and the Projects. Completion of the Private Placement remains subject to customary conditions, including the receipt of all required regulatory approvals.
The Company may pay finders' fees in connection with the Private Placement to eligible arm's length finders in accordance with CSE policies and applicable securities laws.
The Shares will be offered by way of private placement pursuant to exemptions from the prospectus requirements under Canadian securities laws. All securities issued in connection with the Private Placement will be subject to a hold period of four months and one day from the date of issuance under applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. No securities may be offered or sold in the United States absent registration ...
